porters three generic stratgeis

Question 1

what are the names of the 3 stragies

Answer 1

cost leadership
differntiation
focus
study tip: cat dog fish

Question 2

cost leaderhip

Answer 2

lowest cost of production
big firms with efficent production facilities benefiting from EOS can use this strategy

Question 3

differentiation

Answer 3

requires a product with unique attribtues
so they belive its better than riavls products
allow businesses to charge premium prcies
strong branding, quality prodcuts

risks-imiation by competiors, chnages in consumer tastes

Question 4

focus

Answer 4

concentrates on niche makrets and either minimsing costs or showing differentiation

Question 5

stuck in the middle

Answer 5

identifiy a busienss that haws not got a clar focus and is therefore stuck in the middle

Question 6

dis of ansoff matrix

Answer 6

oversimplifies the makret structure
doesnt account for busiensses that can succesffully achcieve both